August 7, 2008
Vana Blue, Inc. Announces Its Transformation into an Oil and Gas Development Company Targeting Some of the Richest Oil Developments in Duchene County, Utah
Vana Blue, Inc. (Pink Sheets: VBLU), has signed an agreement with Native Express, Inc. (an Oil and Gas Exploration Company located in Duchene County, Utah) to develop oil and gas resources in one of the largest oil producing areas of the prolific Uinta Basin.
The agreement includes the rights to develop acres within the Altamont-Bluebell trend area. Altamont-Bluebell field is expected to produce 260 million barrels of oil and 378 billion cubic feet of gas from the Green River and Mesaverde Formations. According to the USGS, these formations contain an additional 38.8 million barrels of oil yet to be discovered in the Uinta Basin.
"We are excited by the opportunity to work with Native Express, Inc. to develop their mineral holdings. Phase one of the operations will include the acquisition of additional leasehold, determination of the initial drilling program and development strategy necessary to avail the companies of the significant oil and gas present in the area," said Vana Blue CEO Donald Gay.
Factual informational sources:
USGS Assessment of Undiscovered Oil and Gas Resources of the Uinta Basin:
Uinta Basin Geological Provinces (including Tertiary Oil and Gas plays)
This document contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.